1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vampirchik [111]
4 years ago
11

what would the length of time you have had a checking or savings account help determine your credit score?

Business
1 answer:
GenaCL600 [577]4 years ago
8 0

It shows a pattern of responsibility.

If you have only had accounts for 1 month, it doesn't really give a full picture of whether or not you always make your payments on time, etc. However if you have had accounts for 20 years, creditors have more history to look through to determine if you are responsible.

Keep in mind, checking and savings accounts are not the primary type of accounts that creditors want to look at because those only deal with spending money you already have. Lenders really want to know how you handle money that you <em>borrow</em>, such as school loans, credit cards, rent payments, and auto loans.

You might be interested in
The following account balances come from the records of Ourso Company: Beginning Balance Ending Balance Accounts receivable $ 2,
Mice21 [21]

Answer: $13,050

Explanation:

The Cash collected from receivables can be calculated by;

= Beginning Accounts Receivable + Sales revenue - Receivables written off - Ending Accounts Receivable

= 2,800 + 14,000 - 150 - 3,600

= $13,050

4 0
3 years ago
Since your first birthday, your grandparents have been depositing $140 into a savings account every month. The account pays 12%
guajiro [1.7K]

Answer:

The correct answer is: $5,140.80.

Explanation:

Simple Interest is a quick method of calculating the interest charged on a loan or the interest accrued out of an investment. It is determined by multiplying the interest rate by the principal by the number of periods. It is one of the most common methods used in finance to calculate the return on certain investments.

In the example, the number of years considered to calculate the interest is 17 because the 18th year on interest is realized by the end of that year. Thus:  

  • Deposit per year: $140
  • Interest per year: $140 x 12% = $16.80
  • Interest accrued: $16,8 x 17 = $285.60

  • Total savings: (Deposit per year x number of years) + interest accrued
  • Total savings: ($140 x 18) + $285.60
  • Total savings: $5,140.80
5 0
3 years ago
Which of the following definition below describes a wall opening
Tcecarenko [31]
I didn't find the answer for an expression for business regarding an opening wall. The one I know is an opening at least 30"" high and 18" wide in a wall or partition through which people may fall
8 0
3 years ago
The Bob Buckham Senior Center, a not-for-profit entity, serves a hot meal to senior citizens every Friday evening. All the food
elena-14-01-66 [18.8K]

Answer:

c. Report $10,000 revenue and expense | Disclose in the notes

Explanation:

Not-for-profit entities must report the fair value of all the goods they receive as donations. in this case, they would have to report the $10,000 worth of food received from a local supermarket. But they are not required to report the value of volunteer work, they only have to disclose it on the footnotes of their financial statements.

4 0
3 years ago
When supply is higher than demand, prices will
Tju [1.3M]
I’m going to with “fall until the demand rises. Because google says “If the supply increases, the prices decreases.” Meaning until the demand is higher then the supply the prices will get decrease.
7 0
4 years ago
Other questions:
  • When a business message provides the rationale for a request before making the specific request, the message is said to be?
    7·1 answer
  • You are scheduled to receive Rs. 15,000 in two years. When you receive it, you will invest it for six more years at 8 percent pe
    5·1 answer
  • You have been offered a job with an unusual bonus structure. as long as you stay with the firm
    15·1 answer
  • How much interest, if any, can jaxon deduct in year 0 if his business uses the cash method of accounting for tax purposes?
    7·1 answer
  • An increase demand for any good or services is reflected graphically as:______.
    11·1 answer
  • Perez, in recently completed 56,000 units of a product that was expected to consume four pounds of direct material per finished
    10·1 answer
  • An action for breach of warranty generally must be brought within four years of the breach.
    9·1 answer
  • "Which kind of marketing involves sending an offer, announcement, reminder, or other item to a person at a particular postal add
    10·1 answer
  • Brian owns a parcel of land that is encumbered by a mortgage held by the First International Bank. Brian agrees to sell the land
    15·1 answer
  • 4. Which of the following do not have to be repaid by the business?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!